E-Drive for Automotive Market Shows Explosive Growth

  • E-Drive for Automotive Market to reach the valuation of $19.44 Bn by 2023.
  • Global e-drive for automotive market is marked to exhibit remarkable expansion at a CAGR of 14.72%.
  • The Asia Pacific region commands the maximum share of the global e-drive for automotive market.

E-Drive for Automotive Market Research Report – Forecast to 2023. The detailed report published by Market Research Future (MRFR) projects that the global e-drive for automotive market is marked to exhibit remarkable expansion at a CAGR of 14.72% during the forecast period of 2017-2023.

It is anticipated to reach the valuation of $19.44 billion by the end of the assessment period from $8.58 billion in the year 2017. High demand for electric vehicles, increased production of automobiles in the rapidly expanding automotive industry and increased environmental concerns regarding the hazardous effects of vehicle emission are majorly propelling the growth of the global e-drive for automotive market during the assessment period.

Global E-Drive For Automotive Market: Segmental Analysis

The global e-drive for automotive market has been segmented on the basis of drive type, product, and electric vehicle type. Based on drive type, the global market for e-drive for automotive has been segmented into front wheel drive, rear wheel drive and all-wheel drive. The front wheel drive segment commands the major share of the global e-drive for automotive market owing to the increased installation of batteries and motors in the front axle of automobiles since last few years.

Based on product, the global market for e-drive for automotive has been segmented into power electronics, e-brake booster, battery, motor, and others. The battery segment commands the maximum share of the global e-drive for automotive market and is marked to expand at a CAGR of 15.57% during the assessment period.

Based on electric vehicle type, the global market for e-drive for automotive has been segmented into battery electric vehicles, hybrid electric vehicles, and plug-in electric vehicles. The hybrid electric vehicles segment commands the leading share of the global e-drive for automotive market and is marked to expand at a CAGR of 15.35% during the forecast period.

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Global E-Drive For Automotive Market: Regional Analysis

Geographically, the global e-drive for automotive market has been segmented into major five major regions such as North America, Asia Pacific (APAC), Europe, Latin America, and the Middle East and Africa. The Asia Pacific region commands the maximum share of the global e-drive for automotive market owing to the increased production of electric vehicles that are manufactured to be exported to the other parts of the world and availability of cheaper raw materials that are promoting the expansion of the automotive industry in the emerging economies of this region. Increased awareness of environmental sustainability and energy security and increasing demand for electric vehicles are majorly propelling the growth of the global e-drive for automotive market in the North America region.

The key players profiled by Market Research Future (MRFR) that are operating in the global e-drive for automotive market are ZF Friedrichshafen (Germany), Magnetic Systems Technology (Magtec) (the U.K.), ACTIA Group (France), Robert Bosch AG (Germany), SMR (India), BorgWarner (the U.S.), SIEMENS AG (Germany), AVL List Gmbh (Austria), GKN PLC (the U.K.), and ABM Greiffenberger (Germany).

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Abhijeet Bendre

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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